British Columbia is injecting nearly $500 million into the Metro Vancouver transit system to save it from what officials say is a feared “death spiral” sparked in part by the COVID-19 pandemic.
Premier David Eby said Wednesday that the $479 million in provincial funding for TransLink will keep fares affordable, prevent service cuts and enable future transit expansion plans to continue.
TransLink CEO Kevin Quinn said losses in ridership revenue because of the pandemic and higher service costs due to inflation and supply chain issues have put unprecedented strains on the company’s finances.
“The provincial government’s $479-million funding injection is a strong vote of confidence in public transit. It will allow us to maintain current service levels and means that we can continue our operations as planned until the end of 2025,” he said….